Morgan Stanley, KKR, Apollo, and Franklin Templeton are among the first major institutions to join Corastone, a newly launched fintech platform aimed at simplifying and scaling private market investing for wealth managers, asset managers, and fund administrators.
The Corastone platform, which went live Tuesday, says it uses permissioned blockchain technology to automate and accelerate private market transactions. According to the company, the platform is designed to address longstanding inefficiencies in the alternative investments space, such as manual paperwork and fragmented systems, by connecting all participants in the investment lifecycle on a single, shared infrastructure.
Corastone’s launch comes as private market investing continues to gain traction among high-net-worth individuals and RIAs. Alternative asset managers have faced challenges onboarding new investors, with transaction processes often slowed by incomplete or inaccurate documentation. By digitizing and automating these workflows, Corastone aims to reduce operational friction and risk, while enabling asset managers to expand access to their offerings.
Read more: Advisors want simple, flexible alternative investment products, but the market is lagging
“We are thrilled to see the Corastone platform live with such a distinguished group of industry leaders,” Rashad Kurbanov, co-founder and chief executive at Corastone, said in a statement Tuesday. He described the launch as a validation of the company’s vision for private markets that are “faster, more transparent and ready to scale.”
Franklin Templeton’s global chief operating officer for private markets wealth management, George Stephan, said that as private markets move toward mainstream adoption, “it is imperative that our industry evolves to deliver a more streamlined, efficient, and client-centric experience.”
Doug Krupa, head of global wealth solutions in the Americas at KKR, noted that while new product structures have made private market investments more accessible, “complex operational processes continue to create barriers to entry, ultimately impacting the investor experience.” Krupa said the firm is working with Corastone and other industry leaders to “unlock greater participation in the private market ecosystem.”
Morgan Stanley’s head of investment solutions products, Alison Nest, said the bank is focused on breaking down barriers to deliver new investment solutions to clients, and that working with Corastone “aligns with that commitment.”
The launch of Corastone follows Morgan Stanley’s recently announced agreement to acquire EquityZen, a private shares trading platform. That deal, the first under CEO Ted Pick, is expected to close in early 2026 and will bring EquityZen’s technology and marketplace under the Morgan Stanley umbrella. EquityZen connects shareholders of private companies with accredited investors seeking pre-IPO exposure – a segment that has seen increased demand as companies remain private for longer.
Bloomberg reports that KKR, which took a minority stake in Corastone and facilitated introductions to other financial firms, has seen strong uptake for its retail-focused K-Series products. Those products, geared toward wealthy individual investors, reached $29 billion in assets under management at the end of the third quarter, double from a year earlier.
According to Bain & Co., individual investors could account for one-fourth of global asset growth in the alternatives industry over the next decade.
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